Common use of Revocable Trusts Clause in Contracts

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes ☐ No ☐ If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: ________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes ☐ No ☐ OR Income (exclusive of any income attributable to spouse) was in excess of $200,000 for the prior two taxable years and is reasonably expected to be in excess of $200,000 for the current taxable year? Yes ☐ No ☐ OR Income (including income attributable to spouse) was in excess of $300,000 for the prior two taxable years and is reasonably expected to be in excess of $300,000 for the current taxable year? Yes ☐ No ☐

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes ☐ No ☐ If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes ☐ No ☐ OR Income (exclusive of any income attributable to spouse) was in excess of $200,000 for the prior two taxable years and is reasonably expected to be in excess of $200,000 for the current taxable year? Yes ☐ No ☐ OR Income (including income attributable to spouse) was in excess of $300,000 for the prior two taxable years and is reasonably expected to be in excess of $300,000 for the current taxable year? Yes ☐ No ☐

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes ☐ No ☐ YES NO If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes ☐ No ☐ YES NO OR Income (exclusive of any income attributable to spouse) was in excess of $200,000 for the prior two taxable years and is reasonably expected to be in excess of $200,000 for the current taxable year? Yes ☐ No ☐ YES NO OR Income (including income attributable to spouse) was in excess of $300,000 for the prior two taxable years and is reasonably expected to be in excess of $300,000 for the current taxable year? Yes ☐ No ☐YES NO

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes ☐ No ☐ If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _____________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes ☐ No ☐ OR Income (exclusive of any income attributable to spouse) was in excess of $200,000 for the prior two taxable years and is reasonably expected to be in excess of $200,000 for the current taxable year? Yes ☐ No ☐ OR Income (including income attributable to spouse) was in excess of $300,000 for the prior two taxable years and is reasonably expected to be in excess of $300,000 for the current taxable year? Yes ☐ No ☐☐ OR

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes ☐ r No ☐ r If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: ____________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes ☐ q No ☐ q OR Income (exclusive of any income attributable to spouse) was in excess of $200,000 for the prior two taxable years and is reasonably expected to be in excess of $200,000 for the current taxable year? Yes ☐ q No ☐ q OR Income (including income attributable to spouse) was in excess of $300,000 for the prior two taxable years and is reasonably expected to be in excess of $300,000 for the current taxable year? Yes ☐ q No ☐q